MARKET WRAP: JSE slips as investors digest US CPI
Inflation in the world’s biggest economy accelerated to 8.5% in March, prompting fears of more aggresive rate hikes by the Fed
The JSE gave up afternoon gains to close weaker as US March inflation came in weaker than expected, adding to expectations of more aggressive rate hikes by the Federal Reserve.
US consumer prices rose to 8.5% on an annual basis in March, above analysts’ estimates of 8.4% and up from 7.9% a month ago. CPI climbed by 1.2% on the month...